Six charities that own a total of 2,500 properties have joined forces to share the management of their property portfolios.
The venture, proposed in March by the Children's Society, has also attracted interest from about a dozen other charities managing several thousand more properties, according to Charles Nall, finance director at the charity.
The venture, which will share management expenses between the organisations, could cut their costs by up to 50 per cent, said Nall.
He declined to reveal the names of the charities the society was collaborating with but said they were large organisations with many small properties across the country.
"The next step will be a benchmarking process to find the best practice in what charities are doing right now," said Nall. "After that, we can assess the savings to be made."
The venture will take about a year to set up, he added.
A similar venture aimed at smaller organisations was recently launched by the Ethical Property Company, which rents property to small charities.
The company will take over asset management for organisations that do not have specialist property management arms.
"The sector puts a high premium on property," said Jamie Hartzell, chief executive of the company. "But it often doesn't put a high enough premium on maintenance."